Summary of FY2011 1H results
| Single-payment premiums of variable annuities |
| | FY2007 | FY2008 | FY2009 | FY2010 | FY2011 1H | | Single-payment premiums of variable annuities | 512.2 | 444.9 | 174.3 | 105.4 | 6.9 |
Single-payment variable annuities premiums have continued to decline mainly due to the shrinking of variable annuities market and a decline in customers' investment appetite owing to market deterioration, in addition to a delay in achieving market penetration of products with limited minimum guarantee.
| | FY2006 | FY2007 | FY2008 | FY2009 | FY2010 | | EV at the end of the fiscal year | 98.7 | 94.3 | 44.0 | 63.3 | 42.3 | | Change in EV* | 17.7 | -14.4 | -50.2 | 19.2 | -20.9 |
*Excluding the effects of capital increases
Embedded value (EV), the profit indicator, as at the end of FY2010 decreased to 42.3 billion yen, down 20.9 billion yen YoY, mainly due to the deterioration of the financial market conditions.
(Note: EV is disclosed at the end of the fiscal year only.)
On a financial accounting basis, net interim income increased by 4.4 billion yen YoY to 0.7 billion yen as at the end of 1H of FY2011 mainly due to the release of contingency reserve, in addition to the replacement of main products since 2H of FY2010 with those designed to generate revenue that is commensurate with the initial cost.
（unit：million yen, unless otherwise specified）
| | FY2007 | FY2008 | FY2009 | FY2010 | FY2011 1H | | Ordinary income | 525,834 | 567,631 | 483,745 | 170,776 | 198,295 | | Ordinary profit | -6,422 | 10,099 | -1,301 | -2,395 | 722 | | Core operating profit | -6,105 | -827 | 2,589 | -5,095 | -2,707 | | Net income | -6,478 | 10,078 | -1,363 | -2,500 | 711 | | Common stock | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | | Total assets | 2,070,732 | 1,964,170 | 2,321,094 | 2,263,019 | 2,064,256 | | (Separate accounts) | 1,967,195 | 1,876,816 | 2,237,702 | 2,192,259 | 2,002,379 | | Underwriting reserves | 2,020,492 | 1,914,011 | 2,271,350 | 2,218,058 | 2,032,287 | | Loans | 2,413 | 2,421 | 2,542 | 2,697 | 2,699 | | Securities | 1,958,324 | 1,881,915 | 2,230,316 | 2,190,848 | 2,004,950 | | Solvency margin ratio | 1,157.5% | 1,057.5% | 1,275.3% | 1,161.1% | 865.9% | | Number of employees | 224 | 363 | 337 | 287 | - |
| Total policy amount in force and new policy amount | (Unit: billion yen) |
| | FY2007 | FY2008 | FY2009 | FY2010 | FY2011 1H | | Total policy amount in force | | | | | | | Individual insurance | 325.4 | 309.7 | 296.6 | 284.5 | 278.4 | | Individual annuities | 2,010.5 | 2,332.5 | 2,486.8 | 2,490.0 | 2,437.3 | | Group insurance | - | - | - | - | - | | Group annuities | - | - | - | - | - | | New policy amount | | | | | | | Individual insurance | 2.5 | 0.3 | - | - | - | | Individual annuities | 505.7 | 442.7 | 173.4 | 104.7 | 6.6 | | Group insurance | - | - | - | - | - | | Group annuities | - | - | - | - | - |
Download of All Financial Data of Tokio Marine & Nichido Financial Life
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